Schleswig-Holstein pushes euro curve way out

euro squeeze 230x150
By Mike Turner
07 Aug 2019

Schleswig-Holstein stretched its euro curve out by a decade on Wednesday, as market participants warn that the world of positive yielding German sub-sovereign debt is shrinking.

The issuer printed a €500m 2039 bond at 4bp over mid-swaps, equal to a yield of 0.269%.

Schleswig-Holstein set the spread in its first market update with books above €450m, excluding joint lead manager interest. 

The quick setting of the book came as rates markets experienced a volatile day, with ...

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